Ameresco Inc Stock Forecast
Ameresco Inc stock price ended at $22.69 on Monday, after gaining 1.25%.
(Updated on May 06, 2024)
The Ameresco Inc stock price gained 1.25% on the last trading day (Monday, 6th May 2024), rising from $22.41 to $22.69. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.06% from a day low at $22.21 to a day high of $22.89. The price has risen in 7 of the last 10 days and is up by 18.86% over the past 2 weeks. Volume fell on the last day by -153 thousand shares and in total, 285 thousand shares were bought and sold for approximately $6.46 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.27% during the next 3 months and, with a 90% probability hold a price between $17.29 and $24.19 at the end of this 3-month period.
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AMRC Signals & Forecast
Mostly positive signals in the chart today. The Ameresco Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $21.60 and $21.39. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 22.25%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
A sell signal from a double top formation was found on Monday, April 01, 2024 and based on theory for this formation the price should fall by -41.72% to $13.22 within 33 trading days since signal was issued (Tuesday, May 07, 2024).
Support, Risk & Stop-loss for Ameresco Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $20.96 and $20.11. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ameresco Inc finds support just below today's level at $20.96. If this is broken, then the next support from accumulated volume will be at $20.11 and $19.54.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.680 between high and low, or 3.06%. For the last week, the stock has had daily average volatility of 5.63%.
Our recommended stop-loss: $21.99 (-3.10%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (AMRC) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Ameresco Inc to open at $22.60, and during the day (based on 14 day Average True Range), to move between $21.33 and $24.05, which gives a possible trading interval of +/-$1.36 (+/-6.01%) up or down from last closing price. If Ameresco Inc takes out the full calculated possible swing range there will be an estimated 12.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.74 (0.22%) than the support at $20.96 (7.62%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Ameresco Inc will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.110. We will update the financials statements for Ameresco Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.02% in the first trading day after earnings release.
Is Ameresco Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.802 Buy Candidate Unchanged
Predicted Opening Price for Ameresco Inc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $22.60 ( 0.411%) | $22.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMRC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.28 | 2.59 % | |
| R2 | 23.02 | 1.44 % | ||
| R1 | 22.86 | 0.733 % | ||
| Current price: | 22.69 | |||
| Support | S1 | 22.34 | -1.56 % | |
| S2 | 22.18 | -2.26 % | ||
| S3 | 21.92 | -3.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.99 | 10.14 % | |
| R2 | 24.13 | 6.35 % | ||
| R1 | 22.74 | 0.220 % | ||
| Current price | 22.69 | |||
| Support | S1 | 20.96 | -7.62% | |
| S2 | 20.11 | -11.37% | ||
| S3 | 19.54 | -13.88% |
FAQ
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